Creditors agree to Greek bond deal

Creditors agree to Greek bond deal

www.cnn.com

The monumental deal means Greece has cleared its final hurdle to qualify for the €130 billion bailout program from the European Union and International Monetary Fund.

More than 85% of private bondholders agreed to the deal, Deputy Prime Minister Evangelos Venizelos said in a statement

The agreement, called the private-sector involvement, gives bondholders not very attractive terms, experts have said. Investors who own Greek bonds could now see losses of up to 75%.

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Looks like Greece is doing what needs to be done to get themsleves out of the hole they dug. 75% is a big loss, but in the long run if it keeps the country afloat it has to be done. To bad the US can't do anything about our debt crisis. We could use some smart thinking on our end, but even if we came up with something like that nobodys going to want to actually lose money. Who cares about the rest of the country.

www.cnn.com
(visit the link for the full news article)

This is something that should have happened a year ago.


This bailout means that especially German tax payers have officially lost all their money. The same thing will happen to Portugal and all other countries in southern Europe. When Italy and / or Spain fall, and they will fall, the European adventure, the NWO wet dream of a United States of Europe will abruptly end.

Originally posted by Brandon88


Looks like Greece is doing what needs to be done to get themsleves out of the hole they dug. 75% is a big loss, but in the long run if it keeps the country afloat it has to be done. To bad the US can't do anything about our debt crisis. We could use some smart thinking on our end, but even if we came up with something like that nobodys going to want to actually lose money. Who cares about the rest of the country.

www.cnn.com
(visit the link for the full news article)

Unfortunately This is the same debt deal that was done in 2011

if it keeps the country afloat it has to be done

No it wont save Greece i cant believe people actually believe that the debt deal will save Greeks? it wont.
because it is the deal as last years.

And the bubble grows.... if the deal is finalized. This means the printing of yet more money that is backed by nothing.

The banks saved themselves. They will do anything to prevent default because if Greece defaults then that means that the banks would have to payout all those credit default swaps they sold.

Funny thing is, the ISDA, the org that determines if a country is in default, is run by the big banks. Cant make ths stuff up. Check out Jim Sinclairs website for the details. www.jsmineset.com...

This only puts off the inevitable.

Sadly Greeks are not getting out of any debt, and this deal will not stop their downfall into default it will only slow down their fate and will keep the greedy corrupted debtors from pushing

What all this hoopla is doing is to delay what is going or is happening already, the so call deal even with the so call cut in debt is nothing, because no matter what the more debt that the Greeks take in the name of bailouts is still more debt and nothing else

The bailout that is set to be implemented before March 20 is just to pay the maturity of bonds already due, this will not help the nations eroding economy or their unemployment woes, just will go into the hands of the bond holders

So while the news keep emphasizing loses for the good of the Greek people, actually the Greek people will get the short hand of the deal as usual.

Euro zone ministers could decide whether to clear the overall bailout package in a conference call on Friday afternoon although they may leave the final decision until a face-to-face meeting on Monday.

Greece must have the funds in place by March 20 when some 14.5 billion euros of bonds are due, which it cannot hope to repay alone.
Euro zone ministers could decide whether to clear the overall bailout package in a conference call on Friday afternoon although they may leave the final decision until a face-to-face meeting on Monday.

With over 75 percent take-up secured, well above the required two thirds threshold, Athens should be able to apply collective action clauses (CAC) imposing the deal on all holders of 177 billion euros in bonds regulated by Greek law.

More debt to repay the already existing debt.

Forget European football,
European can kicking is the new craze!

this does nothing to fix the problem, it just puts a bandaid on a compound fracture. Its going to be the same old story 6 months from now but this time the bankers have the right to greece gold and deposits as Collateral

Originally posted by ALF88
This is something that should have happened a year ago.


This bailout means that especially German tax payers have officially lost all their money. The same thing will happen to Portugal and all other countries in southern Europe. When Italy and / or Spain fall, and they will fall, the European adventure, the NWO wet dream of a United States of Europe will abruptly end.

On the contrary it's something that should never have happened. They should have done 'an Iceland'. Greece is now in hock to it's European overlords. They are being slowly bought and sold - they don't stand a chance of recovering anyway. The money is actually going to banks plus paying for German armaments they don't need!! As for this being the end of the NWO - dream on. This is exactly what was planned to bring about the NWO. Watch and learn...